The inventory situation in the greater Boston market is so dire it’s driven many buyers (and their agents) to despair. But at least one segment of the local housing industry may be singing a happy tune – things are finally looking up for builders, with the latest figures showing a rise in new home construction in the Bay State.
It is true that Boston is building apartments like crazy and faster than ever. More than 8,900 new rental apartments will be completed and delivered by the end of 2017, compared to only 3,600 units opened during the last three year cycle in all of Eastern Massachusetts, out as far as Worcester.
A new study by real estate portal Zillow suggests that more than 40 percent of Boston-area homes may be unaffordable for median-income buyers.
This week’s top sale is a $4.5 million home in Cambridge.
U. S. foreclosure inventory declined 35 percent in February compared with the same time a year ago, according to a new report from real estate data and analytics provider CoreLogic.
The U.S. apartment vacancy rate fell to 4 percent in the first quarter of 2014 as the market’s recovery stretched into its fourth year, according to real estate research firm Reis Inc.
U.S. home prices, including distressed sales, increased 12.2 percent in February 2014 compared with February 2013, according to a new report from real estate data and analytics provider CoreLogic.
Monthly median sale prices for single-family homes in Massachusetts rose 1.96 percent in February 2014 compared with February 2013.
The number of foreclosure petitions dropped by 48.7 percent for the month of February compared to February 2013, according to a new report from The Warren Group, publisher of Banker & Tradesman. This is the 16th consecutive month that petitions have decreased on a year-over-year basis in the Bay State.
Can you be charged interest on your mortgage even after you’ve fully paid it off? Can the meter keep running when you owe the bank nothing – your principal balance is zero?
Just when you thought it was safe to build near the water, the state’s Supreme Judicial Court has issued a new ruling that could curtail new construction in many coastal towns around the state.
After two decades spent conquering the suburban market, Mydelski and O’Koniewski are convinced they have what it takes to crack the city, opening their 13th office this spring on Newbury Street. They spoke to Banker & Tradesman about their brokerage philosophy, their partnership, and the opportunities they see in the current market.
This week’s top sale is a $5 million home in Brookline.
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $150 on each loan they originated in the fourth quarter of 2013, down from $743 per loan in the third quarter, according to the latest quarterly performance report from the Mortgage Bankers Association.
Pending home sales declined for the eighth straight month in February, according to the National Association of Realtors.
Applications for U.S. home mortgages fell last week as interest rates rose to the highest level since January, an industry group said on Wednesday.
Bay State single-family home sales dropped 4.1 percent in February, according to a new report from The Warren Group, publisher of Banker & Tradesman. This is the third time in the last four months that home sales have declined.
Gov. Deval Patrick is set to announce more than $25 million in funding to help create more than 335 units of housing for veterans, the homeless and very low-income families as the state works to reduce the number of homeless families living in hotels.
U.S. home prices rose 13.2 percent year-over-year in January compared with last year, according to the Case-Shiller Home Price Index. The 20-City Composite Index posted its third consecutive monthly decline, with prices dropping 0.1 percent compared with December 2013.
A survey of agents conducted by web-centric brokerage Redfin suggests that bidding wars will increase this spring, with Boston agents among those most likely to say competition is on the rise.
